Los Gatos Real Estate Market Trends and Statistics

The Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a stable period with some appreciation and in many cases, a warm seller’s market (as the sale price to list price ratio indicates). Most of the price gains happened last spring rather than in the last month or two. Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

Please continue reading for info on the LG condo market, and for real estate market information for Monte Sereno and the Los Gatos Mountains too.

The Los Gatos condo and townhouse market is pretty healthy overall, with prices up over last year and month over month. Don’t let the number fool you, though! Low inventory is the culprit. Because there’s a wide range of values with these properties, a few lower end ones or a few luxury ones could make the market appear to be swinging when in fact it’s stable.

Trends at a Glance

FEB 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

+5.8%

$857,125

$810,000

+17.4%

$730,000

Average Sales Price

+22.1%

$857,125

$701,750

+24.4%

$689,250

No. of Homes Sold

-50.0%

2

4

-80.0%

10

Pending Properties

+28.6%

9

7

+50.0%

6

Foreclosures Sold

N/A

1

0

N/A

0

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

-60.0%

2

5

-66.7%

6

Active Foreclosures

N/A

0

0

N/A

0

Active Short Sales

N/A

0

0

N/A

0

Sales Price vs. List Price

-6.9%

93.2%

100.1%

-6.4%

99.6%

Average Days on Market

+132.2%

47

20

+135.1%

20

And February:

Trends at a Glance

JAN 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

-14.1%

$820,000

$955,000

-4.6%

$859,500

Average Sales Price

-15.1%

$753,200

$887,028

+4.6%

$719,833

No. of Homes Sold

-44.4%

5

9

-16.7%

6

Pending Properties

+75.0%

7

4

-12.5%

8

Foreclosures Sold

N/A

0

0

N/A

0

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

+150.0%

5

2

-54.5%

11

Active Foreclosures

N/A

0

0

N/A

0

Active Short Sales

N/A

0

0

-100.0%

1

Sales Price vs. List Price

-0.3%

100.0%

100.4%

-0.5%

100.5%

Average Days on Market

-45.3%

18

33

-71.4%

64

Los Gatos Mountains(houses only, no condos or townhouses there). Houses in 95033 usually take a lot longer to sell than homes “in town”, but there are occasional stories of multiple offers and fast sales even there. The numbers for the closings in February make the market look terrible. That’s not really the case.

Trends at a Glance

FEB 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

N/A

$985,000

$0

N/A

$0

Average Sales Price

N/A

$1,225,000

$0

N/A

$0

No. of Homes Sold

N/A

3

0

N/A

0

Pending Properties

0.0%

2

2

N/A

0

Foreclosures Sold

N/A

0

0

N/A

0

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

+50.0%

12

8

N/A

0

Active Foreclosures

N/A

0

0

N/A

0

Active Short Sales

N/A

0

0

N/A

0

Sales Price vs. List Price

N/A

102.0%

0.0%

N/A

0.0%

Average Days on Market

N/A

13

0

N/A

0

And February:

Trends at a Glance

JAN 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

-30.0%

$690,000

$985,500

-39.9%

$1,147,500

Average Sales Price

-31.5%

$690,000

$1,007,670

-44.8%

$1,250,900

No. of Homes Sold

-83.3%

1

6

-80.0%

5

Pending Properties

+80.0%

9

5

-25.0%

12

Foreclosures Sold

N/A

1

0

0.0%

1

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

-29.4%

12

17

-42.9%

21

Active Foreclosures

-100.0%

0

1

-100.0%

1

Active Short Sales

N/A

0

0

N/A

0

Sales Price vs. List Price

-0.4%

98.3%

98.7%

+2.9%

95.5%

Average Days on Market

-79.9%

18

89

-81.5%

97

Monte Sereno (houses only – small area so prices appear to jump around more due to few transactions each month) – take it with a pound of salt and use the town of Los Gatos as a better reference.

Trends at a Glance

FEB 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

-31.8%

$2,980,000

$4,369,500

-19.5%

$3,700,000

Average Sales Price

-38.9%

$2,485,000

$4,066,000

-32.8%

$3,700,000

No. of Homes Sold

-25.0%

3

4

+50.0%

2

Pending Properties

0.0%

2

2

0.0%

2

Foreclosures Sold

N/A

0

0

N/A

0

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

+37.5%

11

8

+22.2%

9

Active Foreclosures

N/A

0

0

N/A

0

Active Short Sales

N/A

0

0

N/A

0

Sales Price vs. List Price

+7.7%

102.8%

95.4%

+4.8%

98.0%

Average Days on Market

+20.3%

37

31

+640.3%

5

And February:

Trends at a Glance

JAN 2015

PREVIOUS MONTH

YEAR-OVER YEAR

Median Home Price

+36.5%

$4,369,500

$3,200,000

-36.0%

$6,830,000

Average Sales Price

+43.7%

$4,066,000

$2,829,330

-40.5%

$6,830,000

No. of Homes Sold

+33.3%

4

3

+300.0%

1

Pending Properties

-33.3%

2

3

+100.0%

1

Foreclosures Sold

N/A

0

0

N/A

0

Short Sales Sold

N/A

0

0

N/A

0

Active Listings

-11.1%

8

9

-11.1%

9

Active Foreclosures

N/A

0

0

N/A

0

Active Short Sales

N/A

0

0

N/A

0

Sales Price vs. List Price

-1.7%

95.4%

97.1%

+11.1%

85.9%

Average Days on Market

+142.6%

31

13

-80.0%

154

Cambrian Park area of San Jose - Looking for more affordable area close to Los Gatos? Check out the Cambrian Park area of San Jose, especially the 95124 zip code (with Union Schools).Cambrian area of San Jose - condos and townhomesNext we’ll have a quick look at the town by zip code and will use Altos Research charts and graphs (using list prices, not sold ones) to get a pulse on the market. Disclaimers aside, here’s the broad overview by zip code – hope you find this helpful! I will be using “live charts” here so they will always be current!95030 stats:

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on Tuesday, March 3rd, 2015 at 9:57 am
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To begin your search for the perfect home or to sell your house inSan Jose, Los Gatos, Cambrian, Almaden or anywhere in the West Valley or Santa Clara County, call Mary Pope-Handy at 408-204-7673.

"Helping nice folks to buy and sell homes in Silicon Valley since 1993."